Sgx nifty over 100+ pt down. The sentiment is completely down since Tues day big delivery based sell off by large smart investors (I informed it here).
Bears always give faster money than Bulls..
I'll look for profit booking for positional PE around support
9700-30 nifty spot...as
prev swing high was around 9710 spot, this is a critical point for bulls. I'll wait and see price action there to create the fresh position.
Bank Nifty immediate sup around
23800-900, although highest PE @24000. So gap down below 24000 can create panic for 24000PE option writers also.
Be cautious, Friday last day of the week so very fast profit booking/short covering also possible anytime. Pro traders usually book some profits @week end. Waiting for lots of action...